Exchange Shopping Centre in Rochdale. Credit: Jonathan Webb

Martin Property Group buys 520,000 sq ft of GM retail

Clarendon Shopping Centre in Hyde and Exchange Shopping Centre in Rochdale were part of a wider 1.2m sq ft portfolio acquisition from Dutch pension fund Stichting Mars Pensioenfonds.   

Martin Property Group’s acquisition of the 120,000 sq ft Hyde complex and the 320,000 sq ft Exchange takes the number of North West shopping centres the company owns to three. 

MPG also owns the 500,000 sq ft Fishergate in Preston, having acquired it for £8m last year. 

Ankerside Shopping Centre in Tamworth, Four Seasons Shopping Centre in Mansfield, Westside Plaza in Edinburgh, and Angel Place Shopping Centre in Bridgwater were the other complexes acquired from SMP.  

Tenants across the portfolio include Odeon, Lidl, NHS, Sky, Iceland, Primark, EE and Home Bargains. 

A portfolio of student accommodation was also included in the transaction, for which no fee was disclosed.

“We are delighted to complete this transaction and become the custodians of these important assets…particularly at time where shopping centres require hands-on asset management,” said Gary Martin, group director at Martin Property Group. 

“We will be focused on stabilising, repositioning and, where possible, developing the assets further.” 

PwC acted as lead advisor on the transaction. Lewis & Partners acted on behalf of Martin Property Group alongside Mark Kingsley who is chief legal counsel to the Martin Property Group. 

Your Comments

Read our comments policy

Related Articles

Sign up to receive the Place Daily Briefing

Join more than 13,000 property professionals and receive your free daily round-up of built environment news direct to your inbox


Join more than 13,000 property professionals and sign up to receive your free daily round-up of built environment news direct to your inbox.

By subscribing, you are agreeing to our Terms & Conditions and Privacy Policy.

"*" indicates required fields

Your Job Field*
Other regional Publications - select below